CI Investments announces new mandates for income investors
TSX Symbol: CIX
TORONTO, Jan. 6, 2016 /CNW/ - CI Investments Inc. ("CI") is providing new options for income-seeking investors with the launch of Signature Tactical Bond Pool and Signature Preferred Share Pool.
The portfolio advisor to the new pools is Signature Global Asset Management, a division of CI with 38 investment professionals overseeing more than $55 billion in assets in equity, income and multi-asset-class mandates. Signature has offices in Toronto and Hong Kong.
"Canadians continue to seek investments that provide reliable income and capital preservation," said Derek J. Green, CI President. "We are expanding our diverse lineup of income-oriented solutions with two new mandates that are actively managed by an investment team with deep expertise and extensive experience in these asset classes."
Signature Tactical Bond Pool
Signature Tactical Bond Pool's objective is to provide strong risk-adjusted returns by investing in a diversified portfolio of fixed-income instruments. The fund will invest primarily in a diversified portfolio of government, corporate, and high-yield fixed-income securities, from both Canadian and foreign issuers.
The portfolio managers will actively allocate the portfolio between asset classes that include Canadian and foreign government bonds, investment-grade and high-yield corporate bonds, and investment-grade preferred shares. The overall credit rating for the pool will be maintained at an investment-grade level (BBB or higher). The pool will pay a monthly distribution.
"The impact of monetary policy since 2008 has made an active approach to fixed income even more important," said Mr. Green. "Along with asset allocation, Signature will actively manage other critical factors, such as duration and currency exposure, to enhance risk-adjusted returns."
The portfolio managers of the pool are Geof Marshall, CFA, the leader of Signature's high-yield bond team, John Shaw, CFA, who specializes in preferred shares and investment-grade corporate bonds, and Kamyar Hazaveh, MMF (Master of Mathematical Finance), who focuses on Canadian and other government fixed-income securities.
Signature Preferred Share Pool
The objective of Signature Preferred Share Pool is to provide strong risk-adjusted total returns by investing primarily in a diversified portfolio of preferred shares, from both Canadian and foreign issuers.
Signature is one of Canada's largest investors in preferred shares through Signature Dividend Fund and other diversified income funds. Signature Preferred Share Pool provides a focused investment in preferred shares, with an emphasis on Canadian preferred shares. Signature intends to maintain the overall credit rating for the pool at an investment-grade level (P2 or higher). The pool will pay a monthly distribution.
The portfolio manager of the pool is Mr. Shaw, who has managed Signature's preferred share portfolio for over 10 years and is co-manager of Signature Dividend Fund.
New Cambridge funds
CI also announced that two existing Cambridge funds are now available in its tax-efficient CI Corporate Class structure with the launch of Cambridge Canadian Dividend Corporate Class and Cambridge Pure Canadian Equity Corporate Class. The funds' portfolio advisor is Cambridge Global Asset Management, a division of CI with approximately $15 billion in assets under management and offices in Toronto and Boston.
Cambridge Canadian Dividend Corporate Class has an objective to provide primarily a predictable stream of income and, secondarily, modest long-term capital appreciation by investing in an actively managed portfolio of primarily Canadian stocks.
The objective of Cambridge Pure Canadian Equity Corporate Class is to achieve long-term capital growth by investing, directly or indirectly, primarily in equity securities of Canadian companies.
About CI Investments – Canada's Investment Company
CI Investments is one of Canada's largest investment management companies. It offers a wide range of investment products and services, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $145.6 billion in assets as of December 31, 2015.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This report may contain forward-looking statements about CI funds, their future performance, strategies or prospects, and possible future fund action. These statements reflect the managers' current beliefs and are based on information currently available to them. Forward-looking statements are not guarantees of future performance. A number of factors could cause actual events or results to differ materially from those expressed in any forward-looking statement, including economic, political and market changes and other developments. Cambridge Global Asset Management is a business name of CI Investments Inc. used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge Global Asset Management are registered with CI Investments Inc.
SOURCE CI Financial Corp.